Spotlight

Indian equity markets are expected to trade with a cautious undertone as geopolitical tensions in the Middle East have escalated further. Investor sentiment remains under pressure after the United States launched fresh strikes on Iran, with U.S. President Donald Trump stating that the ceasefire is "over." The renewed military action has heightened concerns over regional stability and raised fears of potential disruptions to global energy supplies.
 
Crude oil prices remain elevated amid supply disruption concerns, with Brent crude currently trading in the $74–75 per barrel range after extending its recent rally.
 
Meanwhile, the Indian Rupee has weakened to a one-month low, currently trading near the 95.5 level against the U.S. Dollar, as rising crude oil prices and heightened global risk aversion continue to weigh on the domestic currency.
 
Despite the uncertain global backdrop, Foreign Institutional Investors (FIIs) remained net buyers of domestic equities, investing ?1,962.80 crore on Wednesday. However, with tensions in the Middle East escalating further, market participants will be closely watching whether foreign investors maintain their buying momentum in the coming sessions, as sustained FII inflows will be critical to supporting domestic equities and helping the market sustain its upward momentum at higher levels.

Technical view

Nifty 50

Nifty 50 has witnessed a deterioration in its near-term technical structure after breaking below several key support levels. From a technical perspective, the 24,000 region is now expected to act as the immediate resistance zone. A sustained move above this band would be required to improve sentiment and could pave the way for a recovery towards the 24,200–24,400 region.
 
On the downside, the 23,800 level remains the immediate support. A decisive break below this zone could intensify selling pressure and drag the index towards the 23,600–23,500 support region. Momentum indicators remain weak, with the RSI slipping below the 50 mark, indicating fading bullish momentum. Overall, the near-term technical outlook has turned cautious to bearish, with the index needing to reclaim the 24,100 level to restore positive momentum.

Bank Nifty

Bank Nifty continues to trade with a weak near-term bias, reflecting sustained selling pressure after slipping below key support levels. From a technical perspective, the index must first reclaim the 57,200 level to stabilize the prevailing weakness. A sustained move above this mark, followed by a decisive breakout above the 57,600 resistance zone, could improve sentiment and pave the way for a recovery towards the 58,000 psychological level.
 
On the downside, the 56,600–56,500 region remains the immediate support zone. A decisive break below this band could accelerate selling pressure and drag the index towards the 56,100–56,000 support region. Overall, the near-term technical outlook remains  bearish, with sustained buying above 57,600 required to signal a meaningful recovery.